Casa Grande Housing Market Information

With 54,534 people, 17,391 houses or apartments, and a median cost of homes of $155,643, Casa Grande real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Casa Grande, accounting for 66.09% of the city's housing units. Other types of housing that are prevalent in Casa Grande include mobile homes or trailers ( 16.88%), large apartment complexes or high rise apartments ( 10.01%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.40%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Casa Grande. Owner-occupied housing accounts for 67.40% of Casa Grande's homes, and 55.88% have either three or four bedrooms, which is average sized relative to America.

Casa Grande homes and real estate are some of the newest in America. 52.00% of Casa Grande's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Casa Grande real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 34.57%), and between 1940-1969 ( 12.50%).

Vacant housing appears to be an issue in Casa Grande. Fully 19.06% of the housing stock is classified as vacant. Left unchecked, vacant Casa Grande homes and apartments can be a drag on the real estate market, holding Casa Grande real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Casa Grande Home Appreciation Rates

Homes have actually lost value in Casa Grande over the last then years, as home values have seen a decline of 21.28% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Casa Grande home appreciation rates at 2.20%, which equates to an annual appreciation rate of 9.10%.

Appreciation rates are so strong in Casa Grande that despite a nationwide downturn in the housing market, Casa Grande real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Casa Grande appreciation rates continue to be some of the highest in America, at 9.91%, which is higher than appreciation rates in 93.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Casa Grande. Casa Grande appreciation rates in the latest quarter were at 2.20%, which equates to an annual appreciation rate of 9.10%.

Importantly, this makes Casa Grande one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Arizona, our data show that Casa Grande's latest annual appreciation rate is higher than 50% of the other cities and towns in Arizona.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Casa Grande differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Casa Grande - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Casa Grande real estate investment or home purchase decisions.

Average Home Values

Median Home Value:
$155,643

Casa Grande, AZ HOME PRICES

Value Range

> $1,363,000

0.3

$1,023,001 - $1,363,000

0.3

$682,001 - $1,023,000

0.6

$545,001 - $682,000

0.8

$409,001 - $545,000

2.2

$273,001 - $409,000

7.6

$136,001 - $273,000

41.9

$68,001 - $136,000

28.7

$0 - $68,000

17.7

Average for AZ
Average for Nation

Value
Relative to Nation

Value
Relative to State

49.9151004157152

47.6510067114094

Number Of Homes And Apartments:
17,391

Casa Grande Appreciation Rates

Appreciation Rates

NeighborhoodScout's® Exclusive Home Appreciation Rates

NeighborhoodScout reveals the home appreciation rates for every city, town,
and even most neighborhoods in America.

NeighborhoodScout has calculated and provides home appreciation rates as a
percentage change in the resale value of existing homes in that city, town
or neighborhood over the latest quarter, the last year, 2-years, 5-years,
10-years, and even from 2000 to present. We show both the cumulative
appreciation rate, and the average annual appreciation rate for each time
period (e.g., last 5-years: 84% total appreciation, Avg. per year: 16.8%).
We also show how each city, town or neighborhood's appreciation rate compares
to other cities, towns and neighborhoods in the nation, and within the same
state (e.g., 9 relative to the nation, 5 relative to California [10 is highest]).
This makes comparisons of house appreciation rates equally easy for professional
investors and individual homebuyers. In this example, the neighborhood is
one of the highest appreciating in the nation over the last 5-years, but is
only average in appreciation for the same period relative to other neighborhoods
in the state of California.

About the appreciation rate data

Our data are designed to capture changes in the value of single-family homes
at the city, town and even the neighborhood level. Different neighborhoods
within a city or town can have drastically different home appreciation rates.
NeighborhoodScout vividly reveals such differences. Our data are built upon
median house values in each neighborhood, and combine data from the United
States Bureau of the Census with quarterly house resale data. The data
reflect appreciation rates for the neighborhood overall, not necessarily
each individual house in the neighborhood.

Our data are calculated and updated every three months for each neighborhood,
city and town, approximately two months after the end of the previous quarter.
Each quarter, Fannie Mae and Freddie Mac provide their most recent mortgage
transactions to the FHFA. These data are combined with the data of the
previous 29 years to establish price differentials on properties where more
than one mortgage transaction has occurred. The data are merged with
neighborhood-specific median house values from the Census Bureau using
NeighborhoodScout's proprietary algorithms developed by Dr. Schiller,
creating an updated historical database that is then used to estimate the
appreciation rates for each city, town and neighborhood within each time
period. These resultant neighborhood appreciation rates are a broad measure
of the movement of single-family house prices. The appreciation rates serve
as an accurate indicator of house price trends at the neighborhood level.

How is the home appreciation data calculated?

Neighborhood appreciation rates from NeighborhoodScout are based on both
median house value data reported by respondents via the U.S. Bureau of the
Census, and a weighted repeat sales index, meaning that they measure average
price changes in repeat sales or refinancings on the same properties. This
information is obtained by reviewing repeat mortgage transactions on
single-family properties whose mortgages have been purchased or securitized
by Fannie Mae or Freddie Mac (by the FHFA). Then proprietary algorithms
developed by Dr. Schiller, NeighborhoodScout's founder, are applied
to produce neighborhood appreciation rates. Appreciation rates are updated
by NeighborhoodScout each quarter as additional mortgages are purchased or
securitized by Fannie Mae and Freddie Mac. The new mortgage acquisitions
are used to identify repeat transactions for the most recent quarter, then
are fed into NeighborhoodScout's search algorithms.

What transactions are covered in the appreciation rate data?

Neighborhood appreciation rate data are based on transactions involving
conforming, conventional mortgages. Only mortgage transactions on single-family
properties are included. Conforming refers to a mortgage that both meets
the underwriting guidelines of Fannie Mae or Freddie Mac and that doesn't
exceed the conforming loan limit, a figure linked to an index published by
the Federal Housing Finance Board. Conventional means that the mortgages
are neither insured nor guaranteed by the FHA, VA, or other federal government
entity.

Mortgages on properties financed by government-insured loans, such as FHA
or VA mortgages, are excluded, as are properties with mortgages whose principal
amount exceeds the conforming loan limit. Mortgage transactions on condominiums
or multi-unit properties are also excluded. As such, NeighborhoodScout does
not produce appreciation rates for neighborhoods that consist solely of
renters or have no single-family homes (dwellings without an entrance directly
to the outside).